Summit Midstream Partners files for IPO of up to $301.9 million

Summit Midstream Partners LP, which provides natural gas gathering and compression services, filed with U.S. regulators on Tuesday to raise up to $301.9 million in an initial public offering of its common units.

The Dallas-based company plans to use part of the proceeds from the IPO to repay debt, it said in a filing with the U.S. Securities and Exchange Commission.

Summit Midstream Partners, which counts Encana Corp (ECA.TO) and Chesapeake Energy Corp (CHK.N) among its customers, has applied to list its common units on the New York Stock Exchange under the symbol "SMLP."